According to a university press release, the hub will represent collaboration between Stony Brook University, The Center for Biotechnology, Cold Spring Harbor Laboratory and Brookhaven National Laboratory to turn biomedical discoveries into commercial products that can improve patient care.
In compliance with NIH funding guidelines, the hub will also “provide appropriate funding, resources and expertise required for early-stage technology, as well as skills development, hands-on experience, educational and networking activities. It is also assumed that once an institution becomes granted an award, it will become self-sustaining.” (stonybrook.edu)
Specifically, the LIBH will be tasked with developing medical technologies including therapeutics, preventatives, diagnostics, devices and research tools that will tackle a variety of diseases under the NIH’s purview.
According to the LIBH website, The Hub will focus its resources on four specific areas:
1. Expanding existing infrastructure to foster, prioritize, and commercialize innovations across partner institutions
2. Implementing translational research initiatives that will accelerate development and create a pipeline of “commercial ready” innovations
3. Recruiting a regional talent pool of experienced Bio-Entrepreneurs in Residence (BEIRs) to facilitate early-stage company formation
4. Educating faculty, post-docs, and graduate students about entrepreneurship and commercialization in the life sciences, and establishing a formal mentor network.
The creation of the LIBH is supported by the National Institutes of Health REACH initiative (Research Evaluation and Commercialization Hub), which aims to “provide qualified institutions with the initial investment and resources to nurture innovators to develop high priority early-stage technologies,” according to the NIH.
Of over 100 universities that applied nationwide, only this project and three others were awarded grants. Other institutions that received funding as part of the REACH initiative included the University of Louisville and the University of Minnesota
“The review panel must have recognized the great potential of commercializing biomedical technologies from Stony Brook University, Cold Spring Harbor Laboratory and Brookhaven National Laboratory,” Rubin said.
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